Hong Kong Ocean Park has signed a HK$5.55 billion loan contract with 25 banks in Hong Kong to raise funds for one of its new development plans which will start at the end of this year.

Of the total HK$5.55 billion loan, HK$4.1652 billion has been provided by business banks and HK$1.3875 billion by the government.

With these funds, Ocean Park says it will be able to build a world-class ocean themed park in Hong Kong.

Allan Zeman, chairman of Ocean Park, told local media that the new Ocean Park will bring HK$40-80 billion profit in the first 40 years, and create 11,300-12,800 job opportunities in Hong Kong in the future.

The project will be finished in 2010. By that time, the number of scenic spots in the park will be increased from 35 to more than 70 and they are expected to attract over five million visitors each year.